Elrond Announces Transformation Into MultiversX, Bringing New Products For The Metaverse

Elrond, a startup building internet-scale blockchain technology, is excited to announce its official transformation into MultiversX, expanding its mission of building the new internet economy to include the digital meta-space frontier.

MultiversX will reportedly continue to build on Elrond Network technology, ecosystem, and community. The evolution will advance the groundbreaking, scalable blockchain protocols and tools. MultiversX also seeks to flourish Web3 technology while continuing to expand the original scope by creating a unique opportunity for its user to lead the societal shift towards the Metaverse.

Notably, this new phase comes with three new products, namely xFabric, xPortal, and xWorlds that will serve as the evolution’s pillars. xFabric is a sovereign blockchain module and core blockchain application that can be deployed in minutes. This product includes various use cases and great features for any creator, brand, or company.

xPortal, the portal to the Metaverse, is a true SuperApp that serves as the home for users’ avatars. This product is also designed to be a financial avenue accessible to anyone worldwide. Through the xPortal, users can meet friends, chat and engage in other social activities. 

xWorld is the world craton engine for the MultiversX ecosystem. By design, this product will enable a network of interoperable metaverse worlds. xWorld was developed in partnership with Improbable allowing unprecedented new experiences that are deeply integrated with xPortal and xFabric. 

Commenting on the transition, Beniamin Mincu, CEO and founder of MultiversX, stated:

“Incredible amounts of creative energy are being poured into multiple compelling metaverse visions. MultiversX is building the collaborative framework and composable toolkit to set up the stage for a positive sum game of enormous stakes. For reimagining the entire spectrum of human experience and for reinventing the frontend of every business vertical.”

Notably, this transformation will be unfolded over a three-day event at Brongniart palace in Paris. The event will be attended by Jean-Noel Barrot, the French Minister for Digital Transition and Telecommunications, and Sebastian Burduja, the Romanian Minister of Research, Innovation, and Digitalization. Other attendants include influential industry leaders from finance, Web3, blockchain, and the Metaverse.